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Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Required: Complete the Production Department's Flexible Budget Performance Report. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Labor-hours (q) Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget 9,520 9,040 Direct labor a) $ 154,370 $ 152,320 Indirect labor + $ 1.30 q) Utilities $ 6,900 + a) 2,572 F 1,490 U 19,836 528 U 16,844 Supplies + a) 4,996 4,484 4,340 $ Equipment depreciation ( 0 None 0 None 79,400 $ Factory administration ( + 18,780 $ 1.30 q) Total expense $ 304,868

Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Required: Complete the Production Department's Flexible Budget Performance Report. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Labor-hours (q) Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget 9,520 9,040 Direct labor a) $ 154,370 $ 152,320 Indirect labor + $ 1.30 q) Utilities $ 6,900 + a) 2,572 F 1,490 U 19,836 528 U 16,844 Supplies + a) 4,996 4,484 4,340 $ Equipment depreciation ( 0 None 0 None 79,400 $ Factory administration ( + 18,780 $ 1.30 q) Total expense $ 304,868

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
Section: Chapter Questions
Problem 9P: USD Inc. has established the following standard cost per unit: Although 10,000 units were budgeted,...
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Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Required: Complete the Production Department's Flexible Budget Performance Report. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Labor-hours (q) Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget 9,520 9,040 $ 154,370 $ 152,320 $ 1.30 q) 2,572 F 1,490 U 19,836 528 U 16,844 q) 4,996 4,484 4,340 0 None 0 None Direct labor q) Indirect labor Utilities $ 6,900 Supplies + + + $ Equipment depreciation ( 79,400 ) $ Factory administration ( + 18,780 $ 1.30 q) Total expense $ 304,868
Transcribed Image Text:Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Required: Complete the Production Department's Flexible Budget Performance Report. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Labor-hours (q) Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget 9,520 9,040 $ 154,370 $ 152,320 $ 1.30 q) 2,572 F 1,490 U 19,836 528 U 16,844 q) 4,996 4,484 4,340 0 None 0 None Direct labor q) Indirect labor Utilities $ 6,900 Supplies + + + $ Equipment depreciation ( 79,400 ) $ Factory administration ( + 18,780 $ 1.30 q) Total expense $ 304,868
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